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Re: SATELLITE post# 2205

Friday, 09/23/2016 8:23:30 AM

Friday, September 23, 2016 8:23:30 AM

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The Latest - "Hercules Offshore Inc.'s equity holders accused secured lenders Thursday of setting up the oil and gas rig company for its second Delaware bankruptcy in less than a year through calculated exercises of loan terms developed during the first Chapter 11 restructuring in late 2015.

The assertion came during statements before U.S. Bankruptcy Judge Kevin Carey at the opening of a three-day confirmation hearing on an amended $716 million to $879 million proposal to wind up the company and sell off its drilling and offshore support rigs..."
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